Insurance needs to be solvent to run, maybe not “profitable” but solvent.
How does this work? Car insurance 1.0 Pay more than you use = insurance company profit. 2.0 You fix a car with insurance if it has useful life left (fix cheaper than scrap). 3.0 You don’t if it doesn’t or is too damaged to fix compared to its worth. 4.0 Not everyone even uses insurance on their car, but retires [...]
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Tags: E, Insurance, Life, The, Work